Chattel Mortgage: Registered

(a)Upon the deposit of any such chattel mortgage and application for registration, and upon the payment of the fees as provided in this Title, the Department of Revenue and Taxation shall register the mortgagee, her/his successor or assignee as legal owner in the manner provided for the registration of motor vehicles under the provisions of this Title. The Director of Revenue and Taxation shall charge a recordation fee of Ten Dollars ($10.00).

(b)Upon notice from the mortgagee, her/his successor or her/his assignee, as lien holder, that the lien has been paid in full, the Department of Revenue and Taxation shall record the lien release as part of the registration process. For this service, the Director of Revenue and Taxation shall charge a lien release fee of Five Dollars ($5.00).